The manufacturing sector in Australia continued to expand in June, and at a faster rate, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 51.2.
That’s up from 50.7 in May and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
While output neared stabilization during June, the picture for new orders was less positive as new business decreased solidly again over the month. New orders have fallen continuously since March. A number of respondents linked the latest fall in new business to market uncertainty. New export orders also decreased again at the end of the second quarter.
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